California Public Employees Retirement System Decreases Stock Holdings in Tenet Healthcare Corporation $THC

California Public Employees Retirement System lessened its holdings in Tenet Healthcare Corporation (NYSE:THC) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 167,628 shares of the company’s stock after selling 7,109 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Tenet Healthcare worth $29,503,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in THC. Cerity Partners LLC lifted its stake in Tenet Healthcare by 10.4% during the second quarter. Cerity Partners LLC now owns 120,623 shares of the company’s stock worth $21,230,000 after purchasing an additional 11,395 shares during the last quarter. Jump Financial LLC acquired a new stake in Tenet Healthcare during the second quarter worth approximately $1,083,000. Amundi boosted its holdings in shares of Tenet Healthcare by 4,207.8% in the 2nd quarter. Amundi now owns 27,010 shares of the company’s stock valued at $4,652,000 after buying an additional 26,383 shares in the last quarter. Marshall Wace LLP raised its stake in Tenet Healthcare by 126.9% during the 2nd quarter. Marshall Wace LLP now owns 439,035 shares of the company’s stock worth $77,270,000 after acquiring an additional 245,536 shares in the last quarter. Finally, Optimize Financial Inc acquired a new position in Tenet Healthcare in the second quarter valued at $233,000. Hedge funds and other institutional investors own 95.44% of the company’s stock.

Tenet Healthcare Stock Performance

NYSE:THC opened at $197.50 on Thursday. The firm has a market cap of $17.36 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 0.88 and a beta of 1.44. The company has a debt-to-equity ratio of 2.27, a current ratio of 1.71 and a quick ratio of 1.64. Tenet Healthcare Corporation has a 1-year low of $109.82 and a 1-year high of $222.82. The firm’s fifty day moving average price is $203.38 and its 200 day moving average price is $184.91.

Tenet Healthcare (NYSE:THC) last released its earnings results on Tuesday, October 28th. The company reported $3.70 EPS for the quarter, topping the consensus estimate of $3.33 by $0.37. Tenet Healthcare had a net margin of 6.49% and a return on equity of 25.11%. The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.26 billion. During the same quarter last year, the business earned $2.93 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Tenet Healthcare has set its FY 2025 guidance at 15.930-16.26 EPS. On average, sell-side analysts expect that Tenet Healthcare Corporation will post 12.24 EPS for the current year.

Insiders Place Their Bets

In other news, insider R. Scott Ramsey sold 13,322 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $205.11, for a total transaction of $2,732,475.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard W. Fisher sold 2,500 shares of Tenet Healthcare stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $208.43, for a total value of $521,075.00. Following the completion of the sale, the director owned 8,792 shares in the company, valued at approximately $1,832,516.56. This trade represents a 22.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 43,322 shares of company stock worth $8,816,982. Company insiders own 0.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on THC shares. Zacks Research downgraded Tenet Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, October 6th. Raymond James Financial set a $245.00 price objective on Tenet Healthcare in a research note on Wednesday, October 29th. Weiss Ratings restated a “buy (b-)” rating on shares of Tenet Healthcare in a research report on Monday. Wells Fargo & Company upped their price target on shares of Tenet Healthcare from $238.00 to $252.00 and gave the company an “overweight” rating in a research report on Thursday, November 13th. Finally, Mizuho raised their price objective on shares of Tenet Healthcare from $194.00 to $225.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. One analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $230.88.

Tenet Healthcare Profile

Tenet Healthcare Corporation operates as a diversified healthcare services company in the United States. The company operates through two segments: Hospital Operations and Services, and Ambulatory Care. Its general hospitals offer acute care services, operating and recovery rooms, radiology and respiratory therapy services, clinical laboratories, and pharmacies.